Macy’s beats quarterly sales estimates By Reuters

© Reuters. Students ride on a scooter after exiting school, following the announcement to close New York City public schools, as the spread of coronavirus disease (COVID-19) continues to rise, in Brooklyn, New York


(Reuters) – Macy’s Inc (N:) beat quarterly sales estimates on Thursday, as a sustained shift to online shopping from stuck-at-home consumers signaled healthy demand ahead of the crucial holiday season.

Net sales fell to $3.99 billion from $5.17 billion in the third quarter ended Oct. 31, beating analysts’ estimates of $3.86 billion, according to IBES data from Refinitiv.

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